The government is proceeding to push up the gas prices as the country is set to join the club of liquefied natural gas (LNG) importers.
Officials of the state-owned energy corporation, Petrobangla anticipate that prices may have to be doubled after LNG import starts in late April or early May.
Petrobangla is proceeding to push up the price while Bangladesh Energy Regulatory Commission (BERC) is following suit.
State Minister for Power, Energy and Mineral Resources Nasrul Hamid also hinted at a possible rise.
“Prices for industrial and commercial gas supplies as well as power have to be revised after LNG import starts,” he said on Friday while speaking to a group of journalists.
He, however, did not make it clear whether prices of household gas will go up.
“The BERC will make the final call after holding public hearings,” he said.
Gas prices were revised up by an average of 22.70 per cent in February last year with households hit over 50 per cent monthly rise for stoves.
The LNG import has triggered the plans for second round of revision, a little over a year after the last hike.
The government hopes to start the import between late April and early May as the construction of the LNG Terminal by US-based Excelerate Energy is almost finished.
According to bdnews24.com, the floating terminal at Cox’s Bazar’s Maheshkhali will have a regasification capacity of up to 500 million standard cubic feet of gas per day.
Petrobangla has recently informed the Bangladesh Power Development Board and Bangladesh Chemical Industries Corporation that it will not be able to sell gas below Tk 13 per cubic metre after the LNG import starts, up from its existing average rate of Tk 7.35.